New Street Research - Dada Nexus Ltd (DADA US) DADA 4Q23 Results: Near-Term Visibility Limited Amid Ongoing Biz Adjustments

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New Street Research

Jin Yoon

DADA 4Q23 Results: Near-Term Visibility Limited Amid Ongoing Biz Adjustments

What’s new: As the new management has only been established for less than a month, it would take time for the new team to review each business line and make appropriate adjustments. Hence, visibility could remain limited in the near-term. We maintain our PT at USD2.0 and maintain our NEUTRAL rating. While long-term fundamentals remain intact, it would take time for the stock to gain traction and to win back investors’ trust.

Analysts:
Jin Yoon

27/03/2024 1 EN

Underlying

Dada Nexus Ltd

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New Street Research

Provided by our team of experienced analysts, our work is idea driven, based on independence of thought, sector expertise, and firmly focussed on fundamentals and valuation.

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Pan European Telecom Services and Cable

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Analysts

Jin Yoon

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DADA 4Q23 Results: Near-Term Visibility Limited Amid Ongoing Biz Adjustments

DADA Findings of Independent Review: Implications to JD.com

DADA 3Q23 Results: Business to Remain Resilient in FY24

Altice Model Update

MELI US (Buy, TP: $1,800, +25%) Q1 24 - Argentina really is in the price now, Brazil and Mexico profitability well ahead

ATUS: quick thoughts following the call

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